Diabetic Retinopathy Market Size By Type (Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy), By Age Group (40-49, 50-64, 65-74), By Management (Anti-VEGF, Intraocular Steroid Injection, Laser Surgery, Vitrectomy), By Distribution Channel (Hospitals & Pharmacies, Eye Clinics, Ambulatory Surgical Centers (ASCs)), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Diabetic Retinopathy Market Size

Diabetic Retinopathy Market Size was valued at USD 8 billion in 2018 and is expected to witness 6.9% CAGR from 2019 to 2025.
 

Favourable reimbursement policies available for ophthalmologic surgeries should positively influence diabetic retinopathy market growth. Diabetic retinopathy is a chronic condition that affects eyes and leads to blindness in elderly people. Laser surgery not only helps in retaining eye sight but also, prevents from further damage caused by proliferative diabetic retinopathy. Since there have been technological interventions in these surgeries, elderly people and population in emerging economies face affordability issues due to hike in price of surgeries. Therefore, insurance providers such as Medicaid and Medicare implement several policies to reduce the procedural costs that proves beneficial for industry growth.
 

Technological advancements in the ophthalmic surgical and diagnostic instruments will foster diabetic retinopathy market growth during forecast years. Optical coherence tomography and other technologically upgraded devices utilized in diagnosis provide superior quality cross-sectional images that allows doctor to make better decisions. In addition, surgical instruments have enhanced precision that improves the surgery success rates. Thus, availability of such upgraded ophthalmic devices and instruments have facilitated the diagnostic and surgical procedures that positively impacts the industry growth. However, complications and adverse reactions associated with the medications prescribed for minimizing the impact of diabetic retinopathy may hamper the industry growth to some extent.
 

Diabetic Retinopathy Market Analysis

Proliferative diabetic retinopathy segment was valued around USD 2 billion in 2018 as this condition is most advanced stage of diabetic eye diseases and requires surgical intervention. 65 years and above age group people are more likely to develop this chronic condition and they are often reluctant to undergo invasive surgical procedures that lowers the pace of segmental growth.  
 

Non-proliferative diabetic retinopathy segment is expected to witness 6.6% growth throughout the analysis timeframe. Non-proliferative is the most common reason for blindness in people suffering from diabetes. Also, non-proliferative diabetic retinopathy is less chronic as compared to proliferative diabetic retinopathy and is more prevalent in the patients belonging to age group of 40-60 years. People suffering from non-proliferative diabetic retinopathy prefer several medications and treatments as the condition can be controlled at early stage.
 

40-49 age group segment is projected to grow at 7.2% from 2019 to 2025. Robust segmental growth can be attributed to the growing prevalence of diabetes in this age group. People in 40-49 age group are working professionals having sedentary lifestyle and unhealthy diet. Thus, people in 40-49 age group have high chances of acquiring diabetes that augments the segmental growth.
 

65-74 age group segment was valued around 2 billion in 2018. Significant revenue size is associated with high frequency of proliferative diabetic retinopathy among diabetic patients in the age group of 65-74 years. Additionally, this age group constitutes of large patient pool that increases the demand for medications and treatments elevating the business growth in the coming years.
 

Anti-VEGF segment was valued around USD 7 billion in 2018 and considerable revenue size can be associated with its growing preference in treating diabetic eye disease. Anti-VEGF therapy has commendable efficacy and helps in improving visual acuity drastically. From past several years, this therapy is thought to stabilize vision in patients suffering from diabetic retinopathy. Aforementioned factors are expected to drive the segment growth in upcoming years.
 

Vitrectomy segment will have over 8% growth during forecast timeframe due to several benefits associated with it. This microincision technique is mostly preferred as it is minimally invasive technique having high precision. Also, vitrectomy procedure involves less tissue manipulation and reduced inflammation. Therefore, it is preferred in treating diabetic retinopathy that will stimulate segmental growth.
 

Hospitals and pharmacies segment was valued around USD 4 billion in 2018 and considerable revenue size can be associated with increasing laser surgical procedures in hospitals. Furthermore, hospitals are well-equipped with equipment and diagnostic instruments. Also, hospitals covered under public healthcare sector are funded by government. Therefore, these hospitals can afford adoption of technologically advanced devices required for ophthalmic surgeries that proves beneficial for the segmental growth. 
 

Ambulatory surgical centres (ASCs) segment will have over 7.2% growth during forecast timeframe. Most of the ophthalmic surgeries are performed on an outpatient basis. Outpatient surgical cost is low as compared to inpatient as the length of patient stay is less. Additionally, as ASCs are affiliated to insurance providing companies, most of the ophthalmic surgical procedures are reimbursed that positively influences the segment growth.
 

North America diabetic retinopathy market was valued at USD 3 billion in 2018 and will witness robust growth over the forecast period. Growing prevalence of diabetes has increased the demand for surgical instruments and medications. According to CDC, around 100 million American have diabetes that is one of the major causes of blindness.  Also, increasing awareness regarding availability of advanced options for treating diabetic retinopathy triggers the regional market growth. North America diabetic retinopathy market experiences intense rivalry. For instance, Bayer AG is one of the leading companies in the U.S. that has gained majority of the market share by introducing superior quality medications for diabetic retinopathy. Therefore, new players should consider the risk of investing in competitive market.
 

Asia Pacific diabetic retinopathy market will witness 7.2% growth over the forecast period owing to increasing prevalence of diabetes. Countries such as India and China have large geriatric pool suffering from diabetes. According to International Diabetes Federation, as of 2018, around 72 million people have diabetes. At some point of time, majority of people suffering from diabetes acquire diabetic retinopathy that ensures high industry growth. Also, favourable reimbursement available for ophthalmic surgical procedures resolves affordability issues in emerging economies that positively influences regional market growth.
 

Diabetic Retinopathy Market Share

Some of the major industry players operative in the diabetic retinopathy market include

• Novartis
• Regeneron Pharmaceuticals
• Genentech
• Allergan and Bayer AG
• Aerpio Pharmaceuticals
• Ampio Pharmaceuticals
• BCN Peptides
• ThromboGenics
• Kowa Company
• Alimera Sciences

Mergers, acquisitions and new product launch are some of the strategies that help these players in attaining sustainable market position. Receiving FDA approvals for new products also proves beneficial for company’s growth.  For instance, in April 2019, Novartis received approval for brolucizumab, an ophthalmic drug. Thus, receiving approval for new drugs will increase company’s product sales.

Diabetic Retinopathy Industry Background

Diabetic retinopathy industry can be traced back in 1970’s. Robert Machemer introduced vitreous infusion suction cutter. This was the first closed-system vitrectomy device that provided commendable control during surgical procedures. It also helped the surgeons in gaining appropriate access to posterior segment of eye. Later, with advancements in technology, several other instruments and devices were developed by companies. Recently developed vitrectomy instruments and devices allows doctors to make precise incisions. For instance, retractors and retinal detachment hook currently utilized in vitrectomy possess exceptional precision and provides enough control during surgical procedures. Industry experienced evolution that has been reflected through replacement conventional laser devices. Lately, along with surgical procedures, injectables are extensively used as a mode of treatment. Thus, pharmaceutical companies such as Novartis capitalize their efforts on developing superior quality injectables that helps restoring vision in people suffering from diabetic retinopathy.